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Income tax Appellate Tribunal

ITAT: Remits ALP-determination citing AO’s failure to furnish comparables’ details to assessee

  • In Favour of Assessee
  • Citation Number : TS-27-ITAT-2020(Mum)-TP
  • Tax Payer : Eleglance Jewellery Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Remits royalty TP-adjustment noting TPO/DRP’s base change from sales to value-addition sans examination

  • In Favour of Assessee
  • Citation Number : TS-26-ITAT-2020(Bang)-TP
  • Tax Payer : Kaypee Electronics & Associates Pvt Ltd
Income tax Appellate Tribunal

ITAT: Quashes final assessment order passed sans draft order; Follows Jaipur Rugs ruling

  • In Favour of Assessee
  • Citation Number : TS-25-ITAT-2020(JPR)-TP
  • Tax Payer : Jhandewala Foods Limited
Income tax Appellate Tribunal

ITAT: Excludes 5 comparables for software service-provider; Directs grants of working capital adjustment

  • In Favour of Assessee
  • Citation Number : TS-24-ITAT-2020(Kol)-TP
  • Tax Payer : Atlas Healthcare Software India Pvt. Ltd
Income tax Appellate Tribunal

ITAT: TPO can’t examine international transaction when reference restricted to SDT; Cites Times Global

  • In Favour of Assessee
  • Citation Number : TS-23-ITAT-2020(PUN)-TP
  • Tax Payer : P. N. Gadgil Jewellers Pvt. Ltd
Income tax Appellate Tribunal

ITAT:Restores TP-adjustment on royalty payment for manufacturer assessee; Follows earlier-order

  • In Favour of Both, Partially
  • Citation Number : TS-22-ITAT-2020(Mum)-TP
  • Tax Payer : Mahindra Heavy Engines Ltd
Income tax Appellate Tribunal

ITAT:Rejects content and channel owner comparables with high asset deployment for assessee’s distribution-segment

  • In Favour of Assessee
  • Citation Number : TS-21-ITAT-2020(DEL)-TP
  • Tax Payer : Turner International India Pvt Ltd
Income tax Appellate Tribunal

ITAT: Includes functionally-similar comparable, considers amalgamation impact absorbed in earlier-year accounts

  • In Favour of Assessee
  • Citation Number : TS-20-ITAT-2020(PUN)-TP
  • Tax Payer : Vishay Components India Private Limited
Income tax Appellate Tribunal

ITAT: Remits MAM selection for import transaction; Follows earlier-orders

  • In Favour of Assessee
  • Citation Number : TS-19-ITAT-2020(DEL)-TP
  • Tax Payer : Kehin India Manufacturing Pvt Ltd [Formerly Kehin Panalfa Ltd]
Income tax Appellate Tribunal

ITAT:Dismisses Revenue’s-appeal against penalty deletion as infructuous considering penalty re-initiation post MAP-resolution

  • In Favour of Assessee
  • Citation Number : TS-18-ITAT-2020(DEL)-TP
  • Tax Payer : Mcdonald’s India Pvt Ltd
Income tax Appellate Tribunal

ITAT:Considers final-order sans draft assessment-order as incurable defect for ‘eligible assessee’ u/s144C

  • In Favour of Assessee
  • Citation Number : TS-17-ITAT-2020(COCH)-TP
  • Tax Payer : Olam Agro India Private Limited
Income tax Appellate Tribunal

ITAT:'Ship management services' qualify as 'incidental activities' under Tonnage-tax scheme; TP-provisions inapplicable

  • In Favour of Assessee
  • Citation Number : TS-16-ITAT-2020(Mum)-TP
  • Tax Payer : Essar Ports Ltd (formerly known as Essar Shipping Ports & Logistics Ltd)
Income tax Appellate Tribunal

ITAT: Rules on comparables for software developer following precedents; Remits working-capital adjustment issue

  • In Favour of Both, Partially
  • Citation Number : TS-15-ITAT-2020(Bang)-TP
  • Tax Payer : Rambus Chip Technologies (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Accepts CUP as MAM for benchmarking stock-broking services considering availability of internal-comparables

  • In Favour of Assessee
  • Citation Number : TS-14-ITAT-2020(Mum)-TP
  • Tax Payer : Elara Securities (India) Pvt Ltd
Income tax Appellate Tribunal

ITAT: Deletes Pepsico India’s AMP-adjustment; HC appeal doesn’t render earlier Tribunal-order invalid

  • In Favour of Both, Partially
  • Citation Number : TS-13-ITAT-2020(DEL)-TP
  • Tax Payer : PepsiCo India Holdings Pvt Ltd
Income tax Appellate Tribunal

ITAT:Deletes TP-adjustment on account of ‘royalty’ shortfall; Rejects royalty charge on AE’s entire sales

  • In Favour of Assessee
  • Citation Number : TS-12-ITAT-2020(Mum)-TP
  • Tax Payer : Zodiac Clothing Company Limited
Income tax Appellate Tribunal

ITAT: Determines corporate guarantee ALP at 0.5%; Rejects assessee’s withdrawal of guarantee plea

  • In Favour of Both, Partially
  • Citation Number : TS-11-ITAT-2020(Mum)-TP
  • Tax Payer : Laqshya Media Limited (Earlier known as Laqshya Media Pvt Ltd)
Income tax Appellate Tribunal

ITAT:Remits outstanding receivables TP-adjustment; Follows earlier order

  • In Favour of Assessee
  • Citation Number : TS-10-ITAT-2020(Mum)-TP
  • Tax Payer : Tecnimont Private Limited
Income tax Appellate Tribunal

ITAT: Accepts subscriber-base to allocate revenue from pooled channel related services among domestic-AEs

  • In Favour of Assessee
  • Citation Number : TS-8-ITAT-2020(Mum)-TP
  • Tax Payer : Hathway Cable and Datacom Ltd
Income tax Appellate Tribunal

ITAT: Rejects Sec 10B tax holiday on TPO's TP-adjustment amount; Cites Sec. 92C(4) proviso

  • In Favour of Revenue
  • Citation Number : TS-7-ITAT-2020(CHNY)-TP
  • Tax Payer : Wayne Burt Petrochemical Pvt Ltd